Cryptocurrency: A relatively lesser known cryptocurrency token named after the Greek letter Omicron saw its price surge more than 10 times in a matter of two days outperforming top digital currencies like Bitcoin and Ethereum, soon after the World Health Organization (WHO) named the latest Covid-19 variant of concern Omicron. From Friday to Monday morning, […]
Category: Economics Current Affairs
India’s GDP Growth in Q3 2021
India’s GDP: India’s gross domestic product (GDP) grew by 8.4% in the July to September quarter, compared to a 7.4% contraction a year ago, with the economy’s gross value added (GVA) rising 8.5%, the National Statistical Office said. Factoring in the first quarter GDP growth of 20.1%, the first half of this year has recorded […]
Out-Of-Pocket Expenditure (OOPE)
Out-Of-Pocket Expenditure (OOPE): Out-of-pocket expenditure (OOPE) as a share of total health expenditure and foreign aid for health has both come down as per the findings of the National Health Accounts (NHA) estimates for India for 2017-18 released by Health Secretary Rajesh Bhushan. As a share of total health expenditure, the OOPE has come down […]
Central Bank Digital Currency
Central Bank Digital Currency: The Reserve Bank of India (RBI) has proposed amendments to the Reserve Bank of India Act, 1934, which would enable it to launch a Central Bank Digital Currency (CBDC), thus enhancing the scope of the definition of ‘bank note’ to include currency in digital form. The move has come amid the […]
Base Revision of Wage Rate Index
Wage Rate Index: Expert Group unveils report on base revision of Wage Rate Index (WRI) to 2016=100 from base 1963-65=100. The new series of Wage Rate Index (WRI) with base year 2016=100, is being compiled and maintained by Labour Bureau, an attached office of Ministry of Labour & Employment. The new series of WRI with […]
Primary Health Care: GoI and ADB
Primary Health Care: The Government of India and the Asian Development Bank (ADB) signed a $300 million loan to strengthen and improve access to comprehensive primary health care in urban areas of 13 states that will benefit over 256 million urban dwellers including 51 million from slum areas. The programme supports the Government of India’s […]
K-shaped Economic Recovery
K-shaped Economic Recovery: The prospects of a K-shaped recovery from COVID are increasing both in India and across the world. A K-shaped recovery happens when different sections of an economy recover at starkly different rates. Households at the top of the pyramid are likely to have seen their in- comes largely protected, and savings rates […]
GST: Three-Rate Framework
GST: The Government can rationalise the GST rate structure without losing revenues by rejigging the four major rates of 5%, 12%, 18% and 28% with a three-rate framework of 8%, 15% and 30%, as per a National Institute of Public Finance and Policy (NIPFP) study. The findings of the NIPFP, an autonomous think tank backed […]
What Is The Bharat Gaurav Policy?
What Is The Bharat Gaurav policy? To promote and attract tourism business, the Indian Railways Tuesday launched Bharat Gaurav trains that will be operated by private players and run on theme-based circuits. Through this policy, which offers operators the “Right of Use” of its rakes and infrastructure, the Railways has liberalised and simplified a part […]
River Cities Alliance
River Cities Alliance: Union Minister for Jal Shakti Shri Gajendra Singh Shekhawat launched the River Cities Alliance, a dedicated platform for river cities in India to ideate, discuss and exchange information for sustainable management of urban rivers. This first of its kind Alliance in the world symbolizes the successful partnership of the two Ministries i.e., […]
